Bailard Inc. Buys 3,745 Shares of ConocoPhillips $COP

Bailard Inc. boosted its stake in shares of ConocoPhillips (NYSE:COP) by 2.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 192,766 shares of the energy producer’s stock after purchasing an additional 3,745 shares during the quarter. Bailard Inc.’s holdings in ConocoPhillips were worth $17,299,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in COP. Charles Schwab Investment Management Inc. lifted its position in ConocoPhillips by 379.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock worth $4,210,751,000 after acquiring an additional 31,736,423 shares during the last quarter. Nuveen LLC bought a new stake in ConocoPhillips during the 1st quarter valued at approximately $658,981,000. AQR Capital Management LLC increased its position in ConocoPhillips by 190.5% in the 1st quarter. AQR Capital Management LLC now owns 4,664,408 shares of the energy producer’s stock worth $484,539,000 after buying an additional 3,058,505 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of ConocoPhillips by 30.2% during the first quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock worth $942,297,000 after buying an additional 2,080,625 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in shares of ConocoPhillips by 53.8% in the first quarter. Deutsche Bank AG now owns 5,240,275 shares of the energy producer’s stock valued at $550,334,000 after acquiring an additional 1,834,118 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analysts Set New Price Targets

COP has been the topic of several research analyst reports. Jefferies Financial Group decreased their price target on shares of ConocoPhillips from $129.00 to $120.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Roth Capital decreased their price objective on ConocoPhillips from $108.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, October 15th. Evercore ISI cut their target price on ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating for the company in a research note on Monday, October 6th. Wells Fargo & Company started coverage on shares of ConocoPhillips in a research note on Friday, October 17th. They set an “equal weight” rating and a $100.00 price target on the stock. Finally, Piper Sandler decreased their target price on shares of ConocoPhillips from $124.00 to $115.00 and set an “overweight” rating on the stock in a research report on Monday, October 13th. Eighteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $114.54.

ConocoPhillips Stock Up 2.8%

Shares of COP opened at $90.66 on Wednesday. The business’s 50 day simple moving average is $91.20 and its 200-day simple moving average is $91.98. ConocoPhillips has a one year low of $79.88 and a one year high of $115.38. The company has a market capitalization of $113.23 billion, a P/E ratio of 12.17, a PEG ratio of 2.36 and a beta of 0.58. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, November 6th. The energy producer reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.20. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The company had revenue of $15.03 billion for the quarter, compared to analyst estimates of $14.51 billion. During the same quarter in the previous year, the firm earned $1.78 earnings per share. The business’s revenue was up 14.1% on a year-over-year basis. As a group, sell-side analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Monday, November 17th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.78. ConocoPhillips’s dividend payout ratio is 47.52%.

Insider Buying and Selling at ConocoPhillips

In other news, Director William H. Mcraven purchased 5,768 shares of the business’s stock in a transaction dated Monday, November 10th. The shares were acquired at an average price of $86.68 per share, with a total value of $499,970.24. Following the completion of the purchase, the director directly owned 5,768 shares of the company’s stock, valued at $499,970.24. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.24% of the stock is currently owned by insiders.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.